Friday, May 2, 2014

How Many Jobs Have Been Created or Lost Under Obama? (April 2014 update)

**********************************************************************April 2015 numbers were released this morning, Friday, May 8. Details HERE. Check back for updates throughout the day. +223,000 jobs, Unemp. Rate down slightly to 5.4%.*********************************************************************Note: This report is outdated, reflecting data for April 2014. For current numbers, please click the link above.

How many NET jobs created or lost under Obama as of April 2014? How many private sector jobs have been lost or added during Obama's presidency?How many new jobs in the last 5 years since Obama was inaugurated? How many Americans were working or employed when Obama took office... compared to now?

Numbers for April with latest revisions:

Since the "trough" of the recession in late 2009/early 2010 in seasonally adjusted numbers:

8.6 million MORE jobs in total

9.2 million MORE private sector jobs

7.7 million MORE people working

How many workers were full-time or part-time at the "trough" of the recession in late 2009/early 2010 compared to now?

7.9 million MOREpeople working full-time.

182,000 FEWER people working part-time.

(Yes, despite what you may have heard, from the depth of the recession until now, we have many more additional people working full-time vs. part-time jobs. When a recession hits, companies generally cut back on full-time workers first. When companies start hiring again, the number of full-time workers increases.)

Let's get something straight: Jobs are lost every week and every month. People are fired, people are laid off, businesses or locations are closed and everybody is let go.

Also people quit every week. You yourself, dear reader, may have quit a job at some point in time.

But people are also HIRED every week and every month. New businesses open, businesses expand, businesses replace people who have left or been fired. Every week. You yourself, dear reader, may have been hired for a job at some point in time.This happens in good times and bad.

Yes, even in bad times, people are getting hired. Even in good times, people are let go.

Now: The monthly jobs report, upon which this article is based, presents estimates based on surveys as to how many jobs are gained or lost in a given month. Those numbers are based on the number of new jobs (people getting hired, businesses opening) MINUS the number of jobs that have been cut (people getting fired, people quitting, businesses closing or cutting back).The monthly jobs report therefore reports NET job growth or loss.

For 42 months in this country, we have had MORE jobs being added than we have had jobs being cut. For 49 months in the private sector (not counting federal workers, state or local workers such as teachers, firemen, cops, or people who staff the DMV, only counting people who work for private businesses), we have had MORE jobs added than we have had jobs being cut.

To reiterate: How many jobs have been created in the last 5 years versus how many jobs have been lost?

All numbers provided on monthly jobs reports, which is what the series on jobs created/lost under Obama is based, are NET jobs numbers. In other words, they reflect gains after all job losses are subtracted, or they reflect job losses after all gains are added.

For the past 50 months (as of April 2014), we have had NET gains in private jobs numbers every month. In other words, in every month since February 2010, more private jobs have been created than have been lost. In every month since September 2010, more jobs in total have been created than have been lost.

Fact check and important information on these jobs numbers...

The above jobs numbers are from theBLS jobs report of April 2014, which was released in May 2014. The surveys used to gather these numbers in March are taken as of the week which includes the 12th day of the month, in this case, April 12, 2014.

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